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Contract Duration and Indexation in a Period of Real and Nominal Uncertainty

Christofides, Louis; Peng, Amy Chen - CESifo - 2003

as exceptionally low inflation and substantial fluctuations in nominal and real uncertainty, is used to study the …. Results obtained suggest that expected inflation, nominal and real uncertainty account for most of the secular and cyclical …

Persistent link: https://www.econbiz.de/10005406115

Hyperbolic Discounting and Positive Optimal Inflation

Graham, Liam - 2013

The Friedman rule states that steady-state welfare is maximized when there is deflation at the real rate of interest …

Persistent link: https://www.econbiz.de/10013092871

Unemployment in an Interdependent World

Felbermayr, Gabriel J. - 2010

in the data than in the theoretical model. We show that introducing real wage rigidity can remedy this problem …

Persistent link: https://www.econbiz.de/10013150804

Heterogeneity in Staggered Wage Bargaining and Unemployment Volatility Puzzle

Kara, Engin - 2017

It has been noted that the search and matching model cannot account for the observed unemployment fluctuations. Gertler and Trigari (2009) show this weakness of the model disappears when wage stickiness is introduced to the model. Pissarides (2009) disagrees with this modification, arguing that...

Persistent link: https://www.econbiz.de/10012951773

A Competitive Model of Worker Replacement and Wage Rigidity

Snell, Andy - 2014

exists an incentive for firms to smooth wages. Real wages respond in a highly non-linear manner to shocks, exhibiting …

Persistent link: https://www.econbiz.de/10013058504

Scars of Recessions in a Rigid Labor Market

Cockx, Bart - 2015

We study the impact of graduating in a recession in Flanders (Belgium), i.e. in a rigid labor market. In the presence of a high minimum wage, a typical recession hardly influences the hourly wage of low educated men, but reduces working time and earnings by about 4.5% up to twelve years after...

Persistent link: https://www.econbiz.de/10013025973

Are Real Wages Rigid Downwards?

Holden, Steinar - 2013

stronger evidence for downward nominal than for downward real wage rigidity …This paper explores the existence of downward real wage rigidity (DRWR) in 19 OECD countries, over the period 1973 …-1999, using data for hourly nominal earnings at industry level. Based on a nonparametric statistical method, which allows for …

Persistent link: https://www.econbiz.de/10012753919

Aggregate Wage Flexibility in Selected New EU Member States

Babetskii, Ian - 2013

A fixed exchange rate regime eliminates one degree of freedom in absorbing macroeconomic shocks. Therefore, there is a call for higher labor market flexibility in countries which are members of the monetary union or those which intend to join the monetary union. Focusing on the cross-country...

Persistent link: https://www.econbiz.de/10012754005

Real and Nominal Wage Adjustment in Open Economies

Forslund, Anders - 2013

factors in the labour market? How important is nominal wage rigidity and exchange rate policy for the evolution of real wages …

Persistent link: https://www.econbiz.de/10012754391

A Unified Framework for Using Micro-Data to Compare Dynamic Wage and Price Setting Models

Dixon, Huw David - 2021

This paper develops a statistical framework of steady-state identities which enable us to match the distributions of durations found in the micro-data to generalized Taylor and Calvo models of time-dependent pricing. We illustrate the approach with the UK micro CPI data for 2006-2009, and employ...

Persistent link: https://www.econbiz.de/10013316198